Ontario · Proposal
Trustee's Preliminary Report - Pioneer Balloon Canada Limited
Court officer report · 5 September 2024
A plain-language read of this filing opens with a subscription.
What we verified from this filing5 verified
- closing confirmedscope: all of the Company's right, title, and interest in and to the tangible and intangible assets outlined in the Stalking Horse APA · outcome: completed · effective: 2024-08-02 · purchaser: Goodlevel Enterprises Canada Ltd. · date basis: stated · approval order date: 2024-07-25
- purchaserGoodlevel Enterprises Canada Ltd.
- recovery outcomeentries: basis: estimated · quote: As a result, it is anticipated that there will be no funds available for distribution to the unsecured creditors of Pioneer Balloon. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: actual · quote: As noted above, substantially all of the Company's assets were sold as part of the Transaction and the proceeds were insufficient to repay the claims of RBC, the secured creditor. · pct of: unstated · outcome: shortfall · class key: secured · stated by: trustee · class label: secured creditor RBC · claims amount: 93376 · creditor name: RBC · interim final: unstated · claims qualifier: estimated · table missing:
- sale outcometext: the Transaction closed, realizing gross proceeds of $2,300,000 · scope: whole_business · status: closed
- stalking horseGoodlevel Enterprises Canada Ltd.